Novavax stock ( NASDAQ:NVAX ) has had a disastrous year in the stock market, with its shares down 86% year to date. However, looking out helps: Novavax stock ( NASDAQ:NVAX ) has increased by 302% in the last three years.
The firm is currently facing certain difficulties. The coronavirus vaccine market, where it expects to gain money in the coming years, might contract significantly beginning next year.
Novavax Stock: The Position of Novavax in the COVID-19 Vaccination Market
Nuvaxovid, Novavax’s COVID-19 vaccine, has received clearance or emergency use authorization in dozens of countries across the globe. This year, the biotech plans to make between $2 billion and $2.3 billion in revenue, presumably from this product, which is now its sole authorized one.
However, Novavax earlier said that it projected sales of $4 billion to $5 billion. The business lowered its forecast by blaming the adjustment on “changing market conditions.” These changes are most likely related to a drop in demand for COVID-19 vaccinations. The epidemic isn’t finished yet, but an increasing number of individuals are acting as if it is.
Fortunately, Novavax stock ( NASDAQ:NVAX ) may be able to enhance its chances. In the United States, Nuvaxovid has only been approved for primary immunizations. Novavax has asked for Nuvaxovid to be approved as a booster option in the nation . The firm is now awaiting a regulatory response. Even if the epidemic is over, COVID-19 and the booster market will likely persist for some time. Every year, a large number of individuals will desire to get immunized.
Novavax does not need to create tens of billions of dollars from Nuvaxovid to succ...
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